Deals
Acacia Jumps in London on $4 Billion Endeavour Merger Talks
- Company confirmed preliminary talks held with Endeavour
- Deal would create one of Africa’s biggest gold producers
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Acacia Mining Plc jumped to the highest in almost two months after the gold miner confirmed it is in early-stage talks with rival Africa-focused producer Endeavour Mining Corp. about a possible merger of the two companies which have a combined value of about $4 billion.
Acacia, which mines the precious metal in Tanzania, rose 4 percent to close at 435 pence in London, the highest since Nov. 21, after earlier rising as much as 7.7 percent.